post # 287 — January 18, 2007 — a Managing post
What do you do if youâ€™re the boss of a group, and someone within it has done well, but you canâ€™t give them a raise? What other â€œnon-financial currenciesâ€ are particularly effective?
Commonly listed non-financial currencies would be these:
- Approval (Well Done)
- Gratitude (Thank you)
- Autonomy (Extra degrees of freedom to operate that others in the group do not have)
- Recognition (in front of others)
- Visibility (to others inside and outside the office)
- Contacts (to key people)
- Access to Information (Becoming more of an Insider)
- Access to additional resources
- Rapid response (by manager, even faster than to rest of the team)
- Task support (more resources)
- Titles (Official and Unofficial)
- Special roles or assignments
- Extra Challenges
- Access to Participation / Involvement in hi-status tasks
- Personal Interest / Support
Is it possible to say which of these are the best to use? Are some of them dangerous? What categories do you see?
Bob McIlree said:
How about an excellent professional reference for their next position…just kidding…sort of…
A number of these are dangerous from a management and political perspective because the manager could be seen as playing ‘favorites’ by the rest of his reports. In particular, I think that 3,7,8,9, and 14 have this characteristic.
In the past I have tended to give stellar performers difficult and challenging assignments that I knew would be problematic for other people in my organization. I viewed this simply as good business and not favoritism – but at times it was not construed that way by others on my team. Once the latter happens or is perceived, it is difficult to rectify. Which is why I find some of the items on the list problematic from leadership and management perspectives.
posted on January 18, 2007